Taxes – Expert or Generalist?
If you had to have a root canal, would you go to a general dentist or a root canal specialist?
How about a heart transplant? Would you go to a GP or a heart specialist?
The answer is simple. But when we transfer that to our taxes, many people in home based businesses end up going to a general tax preparer rather than a specialist. Many people that I have seen over time have started out that way and are amazed at the difference. Niche is a very popular word these days, but why don’t tax preparers seem to niche down?
Perhaps it’s a scarcity mentality that they will not get enough clients or maybe they want to become all things to all people. Either way, it becomes detrimental to people needing a specialist.
Even the difference between operating a home based business vs a traditional business is huge. Traditional businesses don’t have home offices nor do they have alot of car issues.
There are even differences between direct sales/mlm vs other home based businesses.
This is why I chose to specialize in just direct sales/mlm. What makes me a true specialist is:
1.) I was PERSONALLY involved in the industry for over 20 yeras
2.) I have done literally nothing else but that industry for over 35 years
3.) I stay current on the industry and have first hand knowledge of most all companies
The ultimate litmus test is to ask how many clients within your industry does your tax person serve and for how long.
You deserve to get the best tax return and deduct all of the items available to you. Choose a person who is a specialist in the industry you are in.